Affiliates and Vendors
Agents' Section Lobbyist
Allied Industries Committee
Draft Agenda for Nov 2012 Forms Cmt Meeting
Certified Land-title Institute (CLT)
Getting a Refund of Condo & HOA Fees
Forums & Blogs
Gov't Affairs Blog
Committee Working Area
Convention Detail Pages
We Love Our Sponsors
Visit Our Exhibitors
Back to topics
Ocwen Shared Appreciation Program Seems to Work
Subscribe to topic
07/18/2012 3:42 PM
Ocwen Financial Corp. ($19.73 0.18%) reduced principal for 18,924 mortgage borrowers as of May as part of its shared appreciation program launched one year ago.
The average monthly payment on principal and interest shrank to $624 from $1,270 before the modification was granted. Ocwen reduced an average $75,500 per loan.
Fewer than 10% of the modified loans went 60 days or more delinquent six months after the workout, according to data provided to HousingWire.
Comparatively, 14.1% of third-quarter modifications by all servicers regulated by the Office of the Comptroller of the Currency went just as delinquent after the same amount of time, according to government data.
More from Housing Wire
Back to top
© 2011 Florida Land Title Association.
Member management site hosted and supported by
St. Petersburg, FL.
Subscribe to FLTA News Ticker on FeedBurner